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The Ifo business climate index is an influential economic indicator issued as part of a monthly report on German business morale by the Ifo economic research institute. It is based on a survey of over 7,000 German companies in manufacturing, construction, wholesaling and retailing. They are asked for their opinion of the current business situation and their expectations for the next six months.
See also: http://www.cesifo-group.de/portal/page/portal/ifoHome